Olympia Ah continues to demonstrate remarkable resilience in a tough environment marked by slackened demand and homes selling below their actual worth.
The suburb continues to post slow growth, amid positive projections, making now the right time to invest in Olympus, says Vitor Afonso of Seeff Pretoria East, who works in the area with partner Karen Afonso. He cites a number of factors.
“Even in these tough times there’s still development taking place. The estates in and around this area are considered some of the best in Pretoria and provide top-level security,” he says. Olympus is an up-and-coming area which has grown substantially over the last 14 years, says Vitor.
“With all the developments taking place I believe this area will continue to grow and give homeowners a good return on their properties in the future.” With the majority of the market stock consisting of estate and complex housing, only a handful of freehold and traditional houses remain.
Olympus AH bucks the trend in a lacklustre market and has shown great potential. It has a
wide variety of properties, so buyers can move in, upgrade and stay for good. - Vitora and Karen Afonso, estate agents, Seeff Pretoria East
Picture: Supplied
Some of these can be found on the surrounding plots, but are set to make way for complexes. This underlines the growing appetite for security and convenient lifestyle, as well as the good investment outlook. Vitor, however, cautions that the subdued economy bodes ill for immediate investment returns.
He takes heart from the fact that half of the sales over the past year were from property owners selling within five years of purchase, something he attributes partly to the constant development taking place in the area. Others are, however, selling up in response to the adverse economic climate.
Olympus largely comprises Olympus Country Estate, Heron Hill Garden Estate, Highlands Estate, Saint Olympus and The Courts, although some property reports classify some of these developments under Boardwalk, says Karen. She says numerous other estates in Zwavelpoort and Bronberg neighbour Olympus, but are generally taken to be a part of the area.
“This area mainly caters for young, up-and-coming, middle-class folk to your very wealthy resident. With estates like The Courts you can look at rentals starting at around R5 000 for bachelor pads to around the R9 500 for the three-bedroom apartments,” she says.
Upmarket estates can realise rentals as high as R30 000 a month. Homes priced between R1.2 million and R2.5m currently comprise the majority of sales.
Some estates priced just below R1m to about R1.5m cater mainly for first-time buyers, however, estates like Olympus Country Estate have sectionals averaging between R1.6m and R2m. “It’s still a good investment and, for tenants, these estates offer good security and amenities,” she says, citing shopping centres, restaurants, hospitals, doctors, schools, walking and biking trails, among others.
Annamarie Cloete’s favourite places and things to do
I first lived in Sunnyside (in the early 1990s), then somewhere in Pretoria East – and now Olympus, the best place I’ve ever lived, safe and beautiful. On some properties I am greeted
by a goat, a horse or cattle. The views are amazing. There are two shopping malls 15 minutes from home and smaller shopping centres too, for every imaginable necessity. - Annamarie Cloete, resident
Picture: Supplied
1 Blos Café
They serve great breakfasts and amazing hot chocolate. I can say everything about this cafe is good. 66 Olympus Drive and Leander Road, Faerie Glen. 082 466 2857
2 Hedianga Farm
There are awesome hiking trails. There’s mountain biking, trail running, dog walking. A must for every family. Dogs enter free. Take lots of water and snacks in case you get lost (but they certainly will find you). Achilles Road and Ajax Avenue, Olympus. 082 552 0955
Hedianga Farm is good for hiking. Picture: Supplied
3 Woodlands Boulevard
Their NuMetro cinemas are top class. I love the place. Philadelphia Road, Pretorius Park. 012 997 9460
4 Kimiad Golf Course and Driving Range
This is a lovely place to unwind after a hard day at the office. You can hit a drive while making sure you don’t strike a deer. Wekker Road, Moreleta Park. 012 997 2240
5 Planet Fitness Olympus
Lovely gym at a fantastic premises along Ajax Avenue. Also easy to find. Plot 33 Ajax Avenue and Olympus Drive. 012 461 0424
6 Die Geelhuis Op die Bult
What an amazing venue. You can watch a live band, such as The Lumineers, among other activities. Portion 19 of Portion 12 of the farm, Vlakfontein. 082 494 5576